ICICI Prudential Growth Fund - Series 5 New Fund

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ICICI Prudential Growth Fund - Series 5

 

 With macro economic indicators showing signs of recovery, it gives me immense pleasure to announce the launch of ICICI Prudential Growth Fund - Series 5, a 3.5 year close ended equity fund, which we believe is a great investment opportunity to participate in India growth story.

We believe that the medium to long term investment case for structural outperformance of Indian equities remains intact underpinned by:

• Inflation dynamics and policy rates cycle turning supportive

• International commodity prices (oil & coal) declining which bodes well for India's economic growth ahead.
• India being in the urbanization sweet spot typically accompanied by peak per capita GDP growth.
• Demographics remaining supportive of economic growth at least for another decade.

• Ongoing fiscal and structural reforms which the government has already initiated:

Øderegulation of diesel prices,
Øhike in exice duty on petrol and diesel,
Øordinance to resolve the coal sector issues arising from the Supreme Court's cancellation of allocation of 214 blocks in September,
Øausterity measures to trim the fiscal deficit, including 10% cut in non-plan expenditure,
Øeasing of foreign direct investment (FDI) policy norms in construction and real estate sector, labour reforms and
Ødedicated website for the government's financial inclusion scheme, Pradhan Mantri Jan Dhan Yojna (PMJDY).

The reforms initiated by the government and any positive trigger in the future may lead to a sustained bull run in the markets. Hence, there lies an opportunity for investment in equities from a long term perspective.

Presenting ICICI Prudential Growth Fund - Series 5
A 3.5 years close ended equity fund that aims to identify primary theme that is likely to outperform in the current market cycle and a secondary theme/sector based on top down/bottom-up analysis.
The fund aims to:

• Invest in around 15 high conviction large-cap stocks#.
• Invest in 10 high conviction mid/small cap stocks with bottom up approach #.
• Declare commensurate dividends.

#The number of stocks provided is to explain the investment philosophy and the actual number may go up or down depending on then prevailing market conditions at the time of investment
*Dividends will be declared subject to availability of distributable surplus and approval from Trustees.

Type of scheme	A Close ended equity scheme
Investment Objective	The investment objective of the Scheme is to provide capital appreciation by investing in a well diversified portfolio of equity and equity related securities. However, there can be no assurance that the investment objective of the Scheme will be realized.
Options	Direct Plan – Dividend payout Option Regular Plan – Dividend payout Option
Minimum Application Amt.	Rs.5,000 (plus in multiple of Rs.10)
Entry & Exit Load	Not Applicable
Benchmark Index	CNX Nifty Index
Fund Manager*	Yogesh Bhatt and Vinay Sharma

 

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